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Coinbase's Crypto Community Fund vs Flipstarters vs IFP

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Avatar for nghiacc
Written by   62
4 months ago

Recently, Coinbased has just announced its Crypto Community Fund (CCF) to solve the fundraising issues.

https://twitter.com/coinbase/status/1316801517983334401?s=20

This is somewhat similar to the Flipstarters. Candidates will present the idea or capability to the sponsors to get funded. There are some differences between the two models, especially on how the fund will be distributed and how the performance will be measured for payout. The CCF will surely be more structured and organised, where the candidates will have to meet some conditions in order to get the payout, etc... However one thing for sure is that there will be influences from Coinbase to the developers, that may do things in favour for Coinbase. And there is still the free rider problem. Those are the shortcomings for community fund, such as CCF, and even for Flipstarters.

With now the CCF is in the picture though, more and more investment will flow into the development of BTC. With its vast resources, BTC will eventually attract majority of talents from crypto space. That sure will impact BCH as well. For the same amount of effort, BTC developers will likely to be paid more than BCH or other crypto. Likewise, the same amount of cost paid to BTC developers will likely to gain more value for the network due to its relative value. So we can clearly see where the talents will be going for.

Now with the IFP, it will address the free rider problem, but it will also take away from the hash of all SHA256 network, including BTC, to fund for BCH development. And because of the coupling of BCH price and the rewards, IFP's grants will do things that benefit the whole network to drive the price high, instead of dump and pump, or for any specific group's benefits. Seems like it is the way to go, until BTC also have the IFP on their way. Can't wait until November comes.

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Avatar for nghiacc
Written by   62
4 months ago
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Comments

Well said !! Very informative article..

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